Thrivent Financial for Lutherans Has $3.18 Million Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Thrivent Financial for Lutherans decreased its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE) by 35.0% during the third quarter, Holdings Channel.com reports. The firm owned 253,122 shares of the financial services provider’s stock after selling 136,584 shares during the period. Thrivent Financial for Lutherans’ holdings in Hope Bancorp were worth $3,179,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. nVerses Capital LLC purchased a new position in Hope Bancorp during the third quarter valued at approximately $48,000. Fifth Third Bancorp boosted its stake in shares of Hope Bancorp by 149.5% during the 2nd quarter. Fifth Third Bancorp now owns 5,279 shares of the financial services provider’s stock valued at $57,000 after buying an additional 3,163 shares during the period. CWM LLC grew its holdings in shares of Hope Bancorp by 15.7% during the 3rd quarter. CWM LLC now owns 9,109 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 1,238 shares in the last quarter. Choreo LLC acquired a new position in shares of Hope Bancorp in the second quarter worth $108,000. Finally, AE Wealth Management LLC purchased a new stake in shares of Hope Bancorp during the second quarter worth $112,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Keefe, Bruyette & Woods boosted their target price on Hope Bancorp from $12.00 to $14.00 and gave the company a “market perform” rating in a research note on Tuesday, July 30th. StockNews.com downgraded Hope Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, November 21st.

Hope Bancorp Trading Up 1.4 %

Hope Bancorp stock opened at $14.02 on Tuesday. Hope Bancorp, Inc. has a one year low of $9.45 and a one year high of $14.53. The company’s fifty day moving average price is $12.91 and its two-hundred day moving average price is $11.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 16.69 and a beta of 1.13.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Hope Bancorp had a net margin of 9.81% and a return on equity of 5.52%. The company had revenue of $246.92 million for the quarter, compared to analyst estimates of $121.67 million. During the same period in the prior year, the company posted $0.25 EPS. On average, analysts forecast that Hope Bancorp, Inc. will post 0.85 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date was Thursday, November 7th. Hope Bancorp’s dividend payout ratio is 66.67%.

Insider Transactions at Hope Bancorp

In other Hope Bancorp news, Director Steven Koh sold 96,620 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $13.33, for a total transaction of $1,287,944.60. Following the completion of the transaction, the director now directly owns 3,167,023 shares in the company, valued at $42,216,416.59. This represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David P. Malone sold 10,428 shares of Hope Bancorp stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $12.71, for a total value of $132,539.88. Following the transaction, the director now directly owns 109,991 shares of the company’s stock, valued at approximately $1,397,985.61. The trade was a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 136,902 shares of company stock worth $1,829,678. 5.29% of the stock is owned by insiders.

Hope Bancorp Company Profile

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides retail and commercial banking services for businesses and individuals in the United States. It accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts. The company also offers loans comprising commercial and industrial loans to businesses for various purposes, such as working capital, purchasing inventory, debt refinancing, business acquisitions, international trade finance, other business-related financing, and loans syndication services; commercial real estate loans; residential mortgage loans; small business administration loans; and consumer loans, such as single-family mortgage, home equity, automobile, credit card, and personal loans.